Ford talks China

Ford Motor, the world's second-largest car maker, is in talks with Chongqing Changan Automobile Group to establish its first car plant in China's most populous city, Chongqing.

The companies were still in discussions, a Changan company official said, asking not to be named.

The Changan spokesman said his company was proposing to make five models from the same basic platform, while Ford wanted to make three.

The Shanghai Daily newspaper reported that the cars could cost 100,000 yuan ($25,650) each and would be sold mainly to private customers,

Shares of Chongqing Changan Automobile Co are up 38 per cent this year, compared with a 26 per cent gain in the Shenzhen B-share index, which tracks shares open to foreigners.